💳 Credit Card Payoff Calculator
Enter your card balance, its APR and what you can pay each month. The calculator shows how long payoff takes and the total interest, so you can see how a bigger payment saves money.
How the Credit Card Payoff Calculator works
Each month interest is added at APR ÷ 12, then your payment is subtracted. This repeats until the balance reaches zero. It assumes no new purchases and a fixed APR.
Step-by-step calculation
- 1Enter the card balance and APR.
- 2Enter your monthly payment.
- 3Interest is added each month and the payment is subtracted.
- 4Count months until the balance reaches zero.
Worked example
A $5,000 balance at 22% APR with $200 a month takes about 34 months to clear and costs about $1,750 in interest.
Credit Card Payoff Calculator examples
| Card balance ($) | Time to pay off |
|---|---|
| 2,500 | 15 months (1 yr 3 mo) |
| 3,750 | 24 months (2 yr 0 mo) |
| 5,000 | 34 months (2 yr 10 mo) |
| 6,250 | 47 months (3 yr 11 mo) |
| 7,500 | 65 months (5 yr 5 mo) |
Other inputs kept at the calculator's default values. Results calculated by this calculator.
Why use a Credit Card Payoff Calculator?
See how long debt will last and how a bigger payment saves money.
Important factors that can affect your results
- New purchases make payoff longer.
- Promotional 0% rates end.
- Late fees and penalty APRs.
Frequently asked questions
What if my payment is too small?
If the payment is not more than the monthly interest, the balance never goes down. The calculator will tell you the minimum needed.
Does it include new purchases?
No. It assumes you stop using the card while you pay it off.
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Last reviewed November 2026 · How we build and check our tools · Report a problem